[BITList] Bravo, Obama!

[John Feltham]

Snouts still in the trough?


Obama Administration Opposes New Jet For Bailed-Out Bank



Click for video of the Falcon 7X interior


White House press secretary Robert Gibbs said Monday at a press  
briefing that President Barack Obama "doesn't believe" using private  
jets "is the best use of money"-- at least not if that money is from a  
federally financed bailout package.

In response to a question about Citigroup spending $50 million for a  
Dassault Falcon 7X business jet, which was reported Monday in the New  
York Post, Gibbs said, "The president believes that great care should  
be used anytime the taxpayers' money is being used ... that money  
should be used to lend to consumers to get the economy moving again,  
to free up capital and credit, and help small businesses create jobs."  
Citigroup has received $45 billion from the TARP, or Troubled Asset  
Relief Program.

According to Bloomberg News, an official from the Treasury Department  
called Citigroup this week to "express concern" about the company's  
planned purchase of the jet. A bank spokesperson told Bloomberg that  
their intent was to sell off older aircraft and buy new, more  
efficient ones and no TARP funds would be used for the purchase. The  
plan, however, drew an outcry.

Sen. Carl Levin, of Michigan, where the auto industry has taken harsh  
criticism for use of corporate jets, said that Citigroup shouldn't be  
flying either. "To permit Citigroup to purchase a plush plane --  
foreign-built no less -- while domestic auto companies are being  
required to sell off their jets is a ridiculous double standard," he  
said in a statement on his Web site. "The notion of Citigroup spending  
$50 million on a new corporate jet, even as it is depending on  
billions of taxpayer dollars to survive, does not fly." Citigroup  
later released a statement saying that the company has "no intent to  
take delivery of any new aircraft."

The three-engine 7X was certified in April 2007, and according to  
Dassault, offers up to 40 percent better fuel efficiency than other  
aircraft in its class. The airplane has a range of almost 6,000 nm and  
can carry up to 12 passengers.



ooroo

If you don't hear the knock of opportunity - build a door.

Anon.



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